Cointime

Download App
iOS & Android

Swiss Social Democrats Propose Limiting UBS's Assets Following Credit Suisse Acquisition

Switzerland's Social Democratic Party has suggested capping the size of UBS's assets after its acquisition of Credit Suisse, citing the risks posed to the country by the combined bank's balance sheet, which is estimated to be around 1.5tn Swiss francs. The party has proposed an upper limit on the bank's assets, suggesting they should not exceed half of Switzerland's GDP. This would require UBS to reduce its assets to a quarter of their current level. The proposal reflects the ongoing debate on balancing growth and stability in the banking sector and offers an opportunity for policymakers to reassess the regulatory framework.

Comments

All Comments

Recommended for you

  • Hyperliquid leads the pack as DEX futures hit $285 billion in 2024

    DEX futures surge to record high as December sees 10.17% of CEX trade volume shift onchain.
  • Pepe Deep Dive

    PEPE shows meme coin power with high trading volumes and a $9B market cap. The token’s social media backing continues to fuel widespread community interest. Short-term movements may hinge on momentum and broader crypto sentiment.
  • Edith Yeung Sees Big Things to Come for Crypto in Hong Kong

    A venture capitalist who was one of the first investors in Solana says building liquidity is now key to Hong Kong’s development as a crypto hub.
  • Cardano (ADA) Price Path to $1.24 if Support Levels Hold

    Cardano (ADA) price has surged 22% over the past seven days, with its trading volume reaching $2 billion in the last 24 hours.
  • US Welcomes Pro-Crypto Congress, Boosting Industry Sentiment

    Ripple CEO Brad Garlinghouse called the 119th US Congress the most pro-crypto legislative body in the nation’s history.
  • Crypto wallet Phantom confirms it won’t launch a token amid airdrop rumors

    Rumors came after Phantom announced a new social discovery feature, where some speculated users would earn tokens by gaining followers.
  • South Korea's Public Prosecutor's Office suspends execution of Yoon Seok-yeol arrest warrant

    According to a report from Korean News Agency, due to the ongoing standoff, the Korean Public Officials Crime Investigation Department stated that the execution of the arrest warrant was stopped at 1:30 p.m. local time today (January 3), which is 12:30 p.m. Beijing time. Currently, the personnel from the Public Officials Crime Investigation Department and the police who were executing the arrest warrant have left the presidential palace. 
  • South Korean court approves arrest warrant for current President Yoon Seok-yeol

    on that day, the South Korean court approved an arrest warrant against Yoon Seok-yeol on charges of insurrection. It is reported that this is the first arrest warrant issued against a sitting president in the history of South Korean constitutional politics. On the 30th, the "Joint Investigation Headquarters" composed of the Korean Senior Public Officials Crime Investigation Department, the police, and the Ministry of National Defense Investigation Department submitted a request to detain President Yoon Seok-yeol to the Seoul Western District Court. The Korean Senior Public Officials Crime Investigation Department has issued three summonses to Yoon Seok-yeol on suspicion of "insurrection leader" and "abuse of power to obstruct the exercise of rights", but Yoon Seok-yeol has not responded. According to the South Korean "Criminal Procedure Law", if the suspect has no justifiable reason to refuse to accept the investigation request, or may not accept the investigation request, the investigation agency can apply to the court for an arrest warrant and conduct a forced investigation on the relevant personnel.
  • Brazilian Congressman Warns of Drex CBDC Risks, Rejects Cash Abolition Bill

    Brazilian congresswoman Julia Zanatta is concerned about the impact of the implemented digital currency (drex) on citizens' lives. Julia Zanatta emphasized that the use of drex (the national central bank digital currency) could lead to the end of physical currency as the country progresses towards implementing it. In a recent interview, Julia Zanatta explained that the use of drex should be voluntary rather than mandatory, as it could become a tool for controlling Brazilians. She has planned multiple backup measures to prevent this from happening and to help Brazilians maintain their current economic freedom.
  • Vivek Ramaswamy X's account was hacked, and the cooperation with USUAL was fake news

    Vivek Ramaswamy, who co-leads the US government efficiency department with Musk, confirmed that his X account was hacked and false news about cooperation with USUAL was previously released.